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Sep 12, 2012
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if there is no action from congress, going over the fiscal cliff means spending gets cut, that's for sure, all right? the bush tax cuts will go away. $1.2 trillion in automatic spending cuts will take effect. payroll taxes will go up. and emergency unemployment benefits will end. this will all hit in january. economists we have spoken with all have said this will lead to a recession. the congressional budget office says it could mean unemployment surges to 9% next year. if we avoid the cliff by extending some of the tax cuts or delaying or completely dodging the sequester, we sure don't address the debt problem, because we're spending a lot of borrowed money to pay for those things. so we're sort of left with a choice between two evils. which the next president will have to address. "outfront" tonight is part of cnn's in depth look at the issues, senator rob portman, republican of the swing state of ohio, romney adviser, also a member of the super committee that failed to reach an agreement, oh, that led us to the whole sequester to begin with, senator. let me start with this. so obv
if there is no action from congress, going over the fiscal cliff means spending gets cut, that's for sure, all right? the bush tax cuts will go away. $1.2 trillion in automatic spending cuts will take effect. payroll taxes will go up. and emergency unemployment benefits will end. this will all hit in january. economists we have spoken with all have said this will lead to a recession. the congressional budget office says it could mean unemployment surges to 9% next year. if we avoid the cliff by...
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Dec 20, 2012
12/12
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apparently what is needed is an increase in revenue and a cut in spending, which is what a fiscal cliff does. >>> tonight, connecticut is remembering the victims of sandy hook elementary school and resident thes of neighboring towns are gathering to pay tribute to the murdered children and adults. gary tuchman is in danbury, which is about a 20 minute drive from newtown, i know, gary, you are at a vigil tonight. >> well, that's right, erin. all over the orfe anisabt atapne o'spki.aor3 ocue ivsi, pthe situation. no one remembers him from grade school, high school, from college. people just don't have memory of this guy. we'll obviously learn more in the days, weeks, months to come, but he was basically an invisible person it seems. >> all right. thank you very much. gary tuchman. >>> a big question a lot of people are continuing to ask is how this happened. why it happened and is there something when you're born, that can make you the kind of person who kills? can you be born a killer? connecticut chief had medical examiner h. wayne carver has asked a geneticist to join his investigation
apparently what is needed is an increase in revenue and a cut in spending, which is what a fiscal cliff does. >>> tonight, connecticut is remembering the victims of sandy hook elementary school and resident thes of neighboring towns are gathering to pay tribute to the murdered children and adults. gary tuchman is in danbury, which is about a 20 minute drive from newtown, i know, gary, you are at a vigil tonight. >> well, that's right, erin. all over the orfe anisabt atapne...
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Dec 20, 2012
12/12
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apparently what is needed is an increase in revenue and a cut in spending, which is what a fiscal cliff does. >>> tonight, connecticut is remembering the victims of sandy hook and residents are gathering to pay tribute. gary tuckman is in danbury and i know you are at a vigil tonight. >> well, that's right, erin. all oaf the world, we feel ainge wish about what happened here in connecticut, but nowhere is it more acute than in this small state and tonight, here in danbury, about 15 miles away, this is called a tribute to newtown. there are hundreds of people through the the state of connecticut who are here to to pay support to the victims, the family members. we know from covering tragedies, the key to coping with it is for people to get together, so we have middle school bands who are here. an ensemble from the university here, which is western connecticut state university. right now, there's a pastor who's speaking. there will be a video tribute shortly to the children and to the adults killed. everyone who's come in here is getting gifts. the red cross is is simplying mickey mouse d
apparently what is needed is an increase in revenue and a cut in spending, which is what a fiscal cliff does. >>> tonight, connecticut is remembering the victims of sandy hook and residents are gathering to pay tribute. gary tuckman is in danbury and i know you are at a vigil tonight. >> well, that's right, erin. all oaf the world, we feel ainge wish about what happened here in connecticut, but nowhere is it more acute than in this small state and tonight, here in danbury, about...
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Nov 17, 2012
11/12
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what was the fiscal cliff? it was a trigger in the debt ceiling debate. they like them, and it makes you wonder, are we going to be dealing with fiscal cliff 2.0 next year? we might. >> thank you very much. >>> rebuilding the republican party. following some big election day losses, the question remains, what exactly is the republican party's future? former congress carlos gutierrez that led latino voters spoke to candy. he said he would disavow so-called gifts from president obama to minorities and young voters to help him win. >> i was shocked. i was shocked, and frankly, i don't think that's why the republicans lost the elections, why we lost the election. i think we lost the election because the far right of this party has taken the party to a place that it doesn't belong. we are the party of prosperity of growth, of tolerance. these immigrants who come across and what they do wrong is they risk their lives and they come here and work because they want to be part of the american dream. that is what the gop is. >> james carville and raylon salom. do yo
what was the fiscal cliff? it was a trigger in the debt ceiling debate. they like them, and it makes you wonder, are we going to be dealing with fiscal cliff 2.0 next year? we might. >> thank you very much. >>> rebuilding the republican party. following some big election day losses, the question remains, what exactly is the republican party's future? former congress carlos gutierrez that led latino voters spoke to candy. he said he would disavow so-called gifts from president...
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Sep 21, 2012
09/12
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most pressing is that little thing called the fiscal cliff that includes the $1.2 trillion spending cuts that are going to take effect in 104 days, the debt creeling, you get the point. congress doesn't seem to be too worried because apparently, there's some back door wheeling and dealing going on and maybe it will save us all. dana bash is "outfront." what are these closed door meetings? >> two kinds of meetings that have been going on. first, we have had closed door meetings with ben bernanke, the treasury secretary and other officials have been coming up to brief key committee members on just what the scenarios would be if in fact the u.s. economy fell off that fiscal cliff, but it really is to do in the word of one source, make sure everybody is operating from the same set of facts. what the consequences would be, not so much negotiating possible scenarios on how to get out of it. the other kind of meeting that has been going on has been that kind of negotiating or at least gaming out possible scenarios, contingency plans is probably the best way to put it, on how to deal with the ta
most pressing is that little thing called the fiscal cliff that includes the $1.2 trillion spending cuts that are going to take effect in 104 days, the debt creeling, you get the point. congress doesn't seem to be too worried because apparently, there's some back door wheeling and dealing going on and maybe it will save us all. dana bash is "outfront." what are these closed door meetings? >> two kinds of meetings that have been going on. first, we have had closed door meetings...
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Dec 4, 2012
12/12
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i'm certain if this is not good enough for the white house, we will go over the fiscal cliff. >> this is a compromise on taxes. this is a compromise on mandatory spending. and it's a compromise on discretionary spending over what the select committee had debated. >> i should mention that erskine bowles has put out a statement himself. while i'm flattered the speaker would call something the bowles plan. the outline in the letter the speaker sent to the president does not represent the bowles simpson plan, nor is it the bowles plan in my testimony on deficit reduction. i simply took the mid point of the public offers, put forward during the negotiations to demonstrate where i thought a deal could be reached at the time. he's very much backing away from speaker boehner's letter. the question i wanted to ask you is some of the details, as you know, it's all in. >> can we spin one more point on that? >> absolutely. >> here's speaker boehner who is taking a mid point on the compromise between the two sides and offered it, and it's already flatley rejected? >> i think he may be rejected, si
i'm certain if this is not good enough for the white house, we will go over the fiscal cliff. >> this is a compromise on taxes. this is a compromise on mandatory spending. and it's a compromise on discretionary spending over what the select committee had debated. >> i should mention that erskine bowles has put out a statement himself. while i'm flattered the speaker would call something the bowles plan. the outline in the letter the speaker sent to the president does not represent...
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Jun 5, 2012
06/12
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he would say this is his position we don't want to have the huge fiscal cliff to fall off of in december. let's kick the can as washington does, push it to 2013 and put a reasonable deal together. what president clinton has said for 21 years that wealthy people should pay more and wants to go back to the rates that wealthy people paid 39% when america was a socialist paradise. it's all the same position he has had. the slight difference in tactics from the white house is i think the white house wants to stand firm in december. the president is saying -- former saying let's kick this to 2013. to me it is not a big difference. >> you make a very good case there. i have to say given what i have heard about the position here and the president saying the wealthiest need to pay more this president has not seemed to indicate in any way that any period of time it would be acceptable for the tax cuts to be extended for the wealthy. >> this is a central method of the campaign. i think that there is another interesting wrinkle to this. so president clinton wants to restore the tax rates for all hou
he would say this is his position we don't want to have the huge fiscal cliff to fall off of in december. let's kick the can as washington does, push it to 2013 and put a reasonable deal together. what president clinton has said for 21 years that wealthy people should pay more and wants to go back to the rates that wealthy people paid 39% when america was a socialist paradise. it's all the same position he has had. the slight difference in tactics from the white house is i think the white house...
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Nov 21, 2012
11/12
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cliff, warning policymakers, do a deal. >> uncertainty about how the fiscal cliff, the raising of the at the time limit and longer-term budget situation will be addressed appears already to be affecting private spending and investment decisions and may be contributing to an increased sense of caution in financial markets with adverse effects on the economy. continuing to push off difficult policy choices will only prolong and intensify these uncertainties. >> he went on to say, if we do get a plan that solves the government budget issues without hurting the economic recovery, next year could be a good one. that is so many if it. >>> the investigation of the shooting at the sikh temple is concluded. the shooter, michael page, acted alone and did not have help. he had been linked to white supremacist groups, but the fbi found no evidence to conclude he had help or was acting under any directive from them. they also said the attack was not part of any ongoing threat to the sikh community. >>> defense secretary leon panetta talked about how the american fight against al qaeda is changing.
cliff, warning policymakers, do a deal. >> uncertainty about how the fiscal cliff, the raising of the at the time limit and longer-term budget situation will be addressed appears already to be affecting private spending and investment decisions and may be contributing to an increased sense of caution in financial markets with adverse effects on the economy. continuing to push off difficult policy choices will only prolong and intensify these uncertainties. >> he went on to say, if...
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Dec 8, 2012
12/12
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and that leads you back to the negotiations over the fiscal cliff. and i think this raises the pressure to get a deal done. that's important. and the part of the deal that is actually not being talked about, but which will be central, is the spending side. the sequester is a very bad policy. both sides agree it needs to go away. they have to figure out how. and the tax side has to be matched by entitlent reforms, and you can pick 37 if you have the right entitlement reforms, but only 36 if you have less and you could get 38 if you have more. there's a lot of work left to be done. >> let's talk about that, robert. on the spending side. do you think that there's any way the democrats get out of this over the next 18 or 24 months without really addressing spending and probably annoying a lot of their base in the process? >> well, the president has already put a lot of spending cuts on the table. let me partially agree with doug. the employment report today was, although it looked pretty encouraging if you look at the numbers underneath the numbers, it w
and that leads you back to the negotiations over the fiscal cliff. and i think this raises the pressure to get a deal done. that's important. and the part of the deal that is actually not being talked about, but which will be central, is the spending side. the sequester is a very bad policy. both sides agree it needs to go away. they have to figure out how. and the tax side has to be matched by entitlent reforms, and you can pick 37 if you have the right entitlement reforms, but only 36 if you...
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Dec 11, 2012
12/12
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president obama was in michigan today pushing his fiscal cliff plan. he made the solution sound so simple. >> when you put it all together, what you need is a package that keeps taxes where they are for middle class familiefamilies, w some tough spending cuts on things we don't need, and then we ask the wealthiest americans to pay a slightly higher tax rate. >> but not so fast, mr. president. we need a little more than you're talking about. president obama says his plan reduces the deficit by $4 trillion over ten years. forget the fact it counts war savings which shouldn't count. let's go with the $4 trillion. john boehner said his plan cuts $2.2 trillion over ten years. you shouldn't be comparing those two nubs. what you should think about is $16 trillion. that's how much debt the country has. according to bill groesdz, the man who runs the biggest fund, ie, the man who decides how much we can spend and borrow, we have to cut spending or raise taxes. that's $1.6 trillion a year. that's $1.2 trillion a year more than the president proposes. and $1.38 t
president obama was in michigan today pushing his fiscal cliff plan. he made the solution sound so simple. >> when you put it all together, what you need is a package that keeps taxes where they are for middle class familiefamilies, w some tough spending cuts on things we don't need, and then we ask the wealthiest americans to pay a slightly higher tax rate. >> but not so fast, mr. president. we need a little more than you're talking about. president obama says his plan reduces the...
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Dec 11, 2012
12/12
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with just 22 days until the fiscal cliff kicks in and we all go sailing off. we're hearing a lot of talk about talking between the president and the house speaker. apparently, these talks are behind closed doors because they're talking over or at or something not good at each other. here is president obama today in detroit on his plan to raise taxes on families making more than $250,000 a year. >> that's a principle i won't compromise on because i'm not going to have a situation where the wealthiest among us, including folks like me, get to keep all our tax breaks. >> is the tough talk road show working for the president tonight? ben labolt is a former press secretary for the obama campaign. he had a vacation that's why he looks healthy now. and republican strategist terry holt. good to see both of you. terry, i want to start with you. the most recent poll we have "the washington post"/pew says by a margin of about 2 to 1, americans say republicans in congress will be to blame if there's not a deal on the fiscal cliff. so is the speaker losing the fiscal cliff
with just 22 days until the fiscal cliff kicks in and we all go sailing off. we're hearing a lot of talk about talking between the president and the house speaker. apparently, these talks are behind closed doors because they're talking over or at or something not good at each other. here is president obama today in detroit on his plan to raise taxes on families making more than $250,000 a year. >> that's a principle i won't compromise on because i'm not going to have a situation where the...
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Dec 4, 2012
12/12
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i'm certain if this is not good enough for the white house, we will go over the fiscal cliff because this is a compromise on taxes. this is a compromise on mandatory spending and it's a compromise on discretionary spending over what the select committee had debated. >> the details if we can and i should mention that erskine bowles put out a statement saying this -- does not represent the bowles-simpson plan, nor is it the bowles plan. in my testimony before the joint select committee on deficit reduction, i simply took the midpoint of the public offers to demonstrate where i thought a deal could be reached at the time. he's very much backing away from speaking boehner's letter, but the question i wanted the to ask you -- >> can we spend one more point on that? >> of course. >> what did he say? that was the midpoint of a compromise from the two. so, here's speaker boehner who is taking a new point on the compromise between the two sides and offered it and it's already flatly rejected? >> i think what he might be rejecting, sir, if i may -- >> no, i'm not talking abo about erskine bowl
i'm certain if this is not good enough for the white house, we will go over the fiscal cliff because this is a compromise on taxes. this is a compromise on mandatory spending and it's a compromise on discretionary spending over what the select committee had debated. >> the details if we can and i should mention that erskine bowles put out a statement saying this -- does not represent the bowles-simpson plan, nor is it the bowles plan. in my testimony before the joint select committee on...